Humility: an important business asset

While it takes confidence to push an idea into the marketplace, it is humility that prevents it from turning into arrogance.

“The difference between arrogance and confidence is self-awareness,” says Jason Mendelson, founder and managing director of the Foundry Group. “The confident leader is self-aware of their customer’s needs, their company’s culture and the rapid changes that occur in their industry.”

Here are some ways to turn your business into a successful one and avoid becoming arrogant.

1. Ditch the swagger
People want to communicate with people who are respectful and humble. Swagger, while mildly impressive to some, is a turnoff for most.

2. Communicate
Information flows both ways, but you can’t listen when your mouth is moving. The best leaders are the best listeners and know when to turn down the noise and make a move.

3. Know the difference
Humility is knowing “we’re going to get kicked (and when we least expect it) and striving to get kicked differently each time”. Arrogance is thinking that no one would ever dare take aim.

Mind the line between confidence and arrogance and keep communicating. Given that only two-thirds of small businesses survive the first two years and fewer than half make it to the four-year point, we’d do well to embrace humility. After all, we never know who’s listening and more importantly, who will have a great idea that helps us make the leap toward memorable, instead of becoming another forgettable casualty on the road of business.